The Government’s U-turn over the West Coast Main Line rail franchise is deeply embarrassing for ministers. Former Transport Secretary Justine Greening announced in August that Virgin’s franchise would be awarded to FirstGroup. That prompted a legal challenge from Virgin — yet just three weeks ago, new Transport Secretary Patrick McLoughlin defended the decision. Now Mr McLoughlin has conceded that the bidding process was significantly flawed. The franchise decision has been scrapped and train operating companies that bid will be reimbursed their costs, estimated at a total of £40 million.

Blur Group, an online exchange that lets clients commission work from marketing agencies and experts around the world, today confirmed plans for a stock-market float that values the business at £20 million.

The proposed £30 billion merger between BAE and Eads hit a major roadblock today as a key French shareholder said the terms of the deal were “unsatisfactory” and called on the European aerospace giant to re-examine the project.

Big John Forrester was in his usual ebullient quick-fire mood on Wednesday. The burly head of DTZ in Europe had good reason to be cheerful for a change. Australian parent UGL, which rescued the listed agent from bankruptcy last December, has decided to rebrand a large part of its own business as DTZ. A wise move. Who wants to be a “Y” away from being called names?